Ezra Holdings Net up 10%
Posted by Greg Trauthwein
October 24, 2014
Image Courtesy: Ezra Holdings
Singapore-based offshore oilfield services firm Ezra Holdings Ltd's quarterly net profit rose 10 percent, with full year revenue rising to a record, powered by a strong performance in its subsea services division.
The company said net profit for the fourth quarter ended in August increased to $11 million and full-year revenue rose 18 percent to $1.49 billion.
"The group maintains a healthy backlog of approximately $2.4 billion, with most contracts expected to be executed over the next 12 to 18 months," Ezra said in a statement.
Ezra's share price closed up 5.7 percent at S$0.84 on Thursday, off a five-year low of S$0.73 hit this month.
The shares have fallen 39 percent so far this year, reflecting softness in the global offshore oilfield service market.
